Smart grid demand to drive transmission investment to $573.7bn by 2030

Core Insights - The smart grid market is experiencing significant growth driven by increasing demand, government initiatives, and technological advancements [1][3][4] Industry Analysis - The smart grid market is disrupting traditional power utilities and the power sector, with a focus on technology, macroeconomic, and regulatory trends [1] - The transmission investment is projected to grow from $372.6 billion in 2025 to $573.7 billion by 2030, reflecting a strong expansion through the 2030s [3] - Transmission investment was $343.2 billion in 2024, with a growth rate of 10.5% over 2023, and is expected to grow at a compound annual growth rate of 9.2% from 2025 to 2030 [4] Technological Trends - AI is enhancing smart grids by utilizing real-time data for demand forecasting, predictive maintenance, and renewable integration, leading to improved reliability and sustainability [5] - Companies like Nvidia and Utilidata are collaborating to develop software-defined smart grid chips to make regional electrical grids more efficient [5] Utility Innovations - Utilities such as Duke Energy and Xcel Energy are leveraging AI for operational improvements, including fleet management and predictive maintenance [6] - E.ON is using machine learning algorithms to predict maintenance needs for medium voltage cables, aiming to reduce outages [6] - Southern Company is integrating electric vehicles into the grid using AI technology from WeaveGrid, optimizing energy distribution and planning for EV infrastructure [6]